VA sales have trended downward for five years, and the third quarter brought more bad news: the product line saw the lowest sales in 20 years. However, experts think interest may slowly pick up as advisers and insurers get more comfortable operating under the DOL fiduciary rule.
| Issuer | Net assets ($M) | % change vs. 2016 | Market share | Market share % change _vs. 2016 | Financial strength rating* | |
|---|---|---|---|---|---|---|
| 1 | TIAA-CREF | $474,342.50 | 5.50% | 24.70% | 3.50% | A++ (Superior) |
| 2 | Jackson National | $176,606.00 | 14.40% | 9.20% | 12.30% | A+ (Superior) |
| 3 | Prudential Financial | $161,203.50 | 4.70% | 8.40% | 2.70% | A+ (Superior) |
| 4 | Lincoln Financial Group | $128,692.70 | 6.80% | 6.70% | 4.80% | A+ (Superior) |
| 5 | AXA Equitable | $114,282.40 | 6.60% | 5.90% | 4.60% | A (Excellent) |
| 6 | Brighthouse Financial | $114,084.70 | 2.90% | 5.90% | 1.00% | A (Excellent) |
| 7 | AIG | $113,673.60 | 6.60% | 5.90% | 4.60% | A (Excellent) |
| 8 | Ameriprise Financial | $78,240.90 | 4.80% | 4.10% | 2.80% | A+ (Superior) |
| 9 | AEGON/Transamerica | $74,579.10 | 6.60% | 3.90% | 4.60% | A+ (Superior) |
| 10 | Nationwide | $71,540.70 | 9.50% | 3.70% | 7.40% | A+ (Superior) |
| 11 | Pacific Life | $54,540.10 | 3.80% | 2.80% | 1.80% | A+ (Superior) |
| 12 | Voya Financial | $39,604.70 | -39.70% | 2.10% | -40.80% | A (Excellent)1 |
| 13 | Hartford | $39,076.40 | -2.50% | 2.00% | -4.40% | B++ (Good)1 |
| 14 | Allianz Life | $34,250.70 | 11.10% | 1.80% | 9.00% | A+ (Superior) |
| 15 | Thrivent Financial | $34,101.10 | 11.40% | 1.80% | 9.30% | A++ (Superior) |
| 16 | Fidelity Investments Life | $30,836.70 | 10.60% | 1.60% | 8.50% | A+ (Superior) |
| 17 | New York Life | $30,392.10 | 9.30% | 1.60% | 7.20% | A++ (Superior) |
| 18 | Ohio National | $22,362.70 | 6.90% | 1.20% | 4.90% | A+ (Superior) |
| 19 | Northwestern Mutual | $20,184.90 | 11.00% | 1.00% | 8.90% | A++ (Superior) |
| 20 | Mutual of America | $15,388.00 | 22.70% | 0.80% | 20.30% | A+ (Superior) |
| Issuer | Net assets ($M) | % change vs. 2016 | Market share | Market share % change _vs. 2016 | Financial strength rating* | |
|---|---|---|---|---|---|---|
| 1 | Jackson National | $3,891.70 | -9.50% | 18.90% | 1.70% | A+ (Superior) |
| 2 | TIAA-CREF | $2,611.60 | -19.50% | 12.70% | -0.30% | A++ (Superior) |
| 3 | AXA Equitable | $2,118.10 | -12.20% | 10.30% | 0.60% | A (Excellent) |
| 4 | Lincoln Financial Group | $1,595.70 | 0.10% | 7.80% | 1.40% | A+ (Superior) |
| 5 | AIG | $1,490.00 | -23.40% | 7.20% | -0.60% | A (Excellent) |
| 6 | Prudential Financial | $1,315.00 | -36.90% | 6.40% | -2.00% | A+ (Superior) |
| 7 | Nationwide | $1,221.60 | -11.70% | 5.90% | 0.40% | A+ (Superior) |
| 8 | Ameriprise Financial | $904.30 | -10.70% | 4.40% | 0.30% | A+ (Superior) |
| 9 | Allianz Life | $742.30 | 46.50% | 3.60% | 1.60% | A+ (Superior) |
| 10 | AEGON/Transamerica | $724.80 | -32.20% | 3.50% | -0.80% | A+ (Superior) |
| 11 | Pacific Life | $712.50 | 0.00% | 3.50% | 0.60% | A+ (Superior) |
| 12 | New York Life | $668.90 | 6.00% | 3.30% | 0.70% | A++ (Superior) |
| 13 | Thrivent Financial | $575.90 | -22.50% | 2.80% | -0.20% | A++ (Superior) |
| 14 | Fidelity Investments Life | $323.40 | -1.00% | 1.60% | 0.30% | A+ (Superior) |
| 15 | Brighthouse Financial | $306.50 | -39.00% | 1.50% | -0.50% | A (Excellent) |
| 16 | Northwestern Mutual | $295.90 | -4.70% | 1.40% | 0.20% | A++ (Superior) |
| 17 | Ohio National | $184.30 | -50.20% | 0.90% | -0.60% | A+ (Superior) |
| 18 | Massachusetts Mutual | $147.00 | -10.00% | 0.70% | 0.10% | A++ (Superior) |
| 19 | Great-West | $139.70 | 43.00% | 0.70% | 0.30% | A+ (Superior) |
| 20 | Mutual of America | $123.90 | -4.90% | 0.60% | 0.10% | A+ (Superior) |
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
